TRU Independence Asset Management 2 LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,126 shares of the network equipment provider’s stock, valued at approximately $50,000.
Several other hedge funds also recently made changes to their positions in CSCO. Norges Bank bought a new stake in shares of Cisco Systems in the fourth quarter worth approximately $2,026,921,000. Dodge & Cox grew its stake in shares of Cisco Systems by 27.3% in the fourth quarter. Dodge & Cox now owns 38,592,574 shares of the network equipment provider’s stock worth $1,727,018,000 after acquiring an additional 8,276,836 shares during the period. BlackRock Inc. grew its stake in shares of Cisco Systems by 2.0% in the fourth quarter. BlackRock Inc. now owns 327,697,698 shares of the network equipment provider’s stock worth $14,664,472,000 after acquiring an additional 6,274,151 shares during the period. Price T Rowe Associates Inc. MD grew its position in Cisco Systems by 10.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,461,276 shares of the network equipment provider’s stock valued at $1,721,142,000 after buying an additional 3,778,044 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Cisco Systems by 55,150.8% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,708,433 shares of the network equipment provider’s stock valued at $165,952,000 after buying an additional 3,701,721 shares during the period. Hedge funds and other institutional investors own 70.62% of the company’s stock.
In related news, CAO Prat Bhatt sold 6,273 shares of the firm’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $296,148.33. Following the completion of the transaction, the chief accounting officer now owns 119,282 shares in the company, valued at approximately $5,631,303.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Chandler sold 3,024 shares of the firm’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $142,763.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,776 shares of company stock valued at $1,832,205. Company insiders own 0.02% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.92 billion. During the same quarter in the prior year, the business posted $0.77 EPS. On average, equities analysts predict that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, April 5th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.36. Cisco Systems’s dividend payout ratio is currently 50.68%.
Several analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Cisco Systems from $45.00 to $50.00 in a research report on Wednesday, February 10th. Raymond James boosted their target price on shares of Cisco Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, February 10th. Credit Suisse Group boosted their target price on shares of Cisco Systems from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, February 10th. The Goldman Sachs Group upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $50.00 to $59.00 in a research report on Wednesday, March 31st. Finally, DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Thursday, February 11th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $49.48.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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